Maine § 5 §17102 Board of trustees

Maine Statutes

§ 5 §17102 — Board of trustees

Maine·Title 5 ADMINISTRATIVE PROCEDURES AND SERVICES·Part 20 STATE RETIREMENT SYSTEM·Ch. 421 GENERAL PROVISIONS

1.Composition. The Board of Trustees of the Maine Public Employees Retirement System, established by section 12004‑F, subsection 9, is composed of 8 trustees, as follows: 1-A. Retirement system employees ineligible. The chief executive officer and the employees of the retirement system may not serve on the board of trustees.

2.Chair. The board shall elect from its membership a chair.

3.Term. The terms of the trustees shall be determined as follows.

4.Oath. Each trustee shall, within 30 days after the trustee's appointment, take an oath of office to faithfully discharge the duties of a trustee, in the form prescribed by the Constitution of Maine.

5.Transaction of business. The transaction of business by the board is governed as follows.

6.Compensation. The trustees shall be compensate

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1.
Composition.
The Board of Trustees of the Maine Public Employees Retirement System, established by section 12004‑F, subsection 9, is composed of 8 trustees, as follows:
1-A.
Retirement system employees ineligible.
The chief executive officer and the employees of the retirement system may not serve on the board of trustees.
2.
Chair.
The board shall elect from its membership a chair.
3.
Term.
The terms of the trustees shall be determined as follows.
4.
Oath.
Each trustee shall, within 30 days after the trustee's appointment, take an oath of office to faithfully discharge the duties of a trustee, in the form prescribed by the Constitution of Maine.
5.
Transaction of business.
The transaction of business by the board is governed as follows.
6.
Compensation.
The trustees shall be compensated, as provided in chapter 379, from the funds of the retirement system. For the purposes of this subsection, "administrative leave" means an excused absence from work during the employee's normal work schedule for which the employee does not receive a reduction in compensation, except that it does not include the use of earned vacation time specified by the employment contract; "public employee trustee" means a trustee selected or elected according to subsection 1, paragraph B, C or E, or an employee as that term is defined by section 17001, subsection 14. Notwithstanding section 12004‑F, subsection 9, certain trustees shall be compensated as follows. The employer of a public employee trustee shall grant administrative leave at the request of that trustee in order for that trustee to attend an activity compensable under section 12002‑B. If administrative leave is granted to the trustee, then the trustee shall not receive per diem authorized under chapter 379 and an amount equal to the legislative per diem which would otherwise be paid from the funds of the retirement system to the trustee shall be paid directly to that person's employer, unless the employer is the State.
7.
Expenses.
All administrative costs and expenses attributable to the administrative operating budget of the retirement system must be charged against the assets of the applicable fund.
8.
Legal advisor.
The Attorney General or an assistant designated by the Attorney General shall be legal advisor to the board.
9.
Record.
The board shall keep a record of all its proceedings, which:
10.
Reports.
The board shall publish annually for each fiscal year:

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Legislative History

PL 1985, c. 801, §§5, 7 (NEW). PL 1987, c. 256, §4 (AMD). PL 1987, c. 715, §§4,5 (AMD). PL 1989, c. 483, §§A25,A26 (AMD). PL 1989, c. 503, §B33 (AMD). P&SL 1993, c. 67, §1 (AMD). PL 1993, c. 410, §L17 (AMD). PL 1995, c. 3, §1 (AMD). PL 1997, c. 625, §1 (AMD). PL 1997, c. 625, §2 (AMD). PL 2001, c. 181, §4 (AMD). PL 2007, c. 58, §3 (REV). PL 2007, c. 240, Pt. U, §5 (AMD). PL 2007, c. 491, §§73-76 (AMD). PL 2015, c. 385, §3 (AMD). PL 2017, c. 88, §10 (AMD). PL 2021, c. 548, §9 (AMD). PL 2021, c. 548, §45 (REV). RR 2021, c. 2, Pt. A, §9 (COR). RR 2023, c. 2, Pt. B, §§93, 94 (COR).